WASHINGTON — Looking to better secure American’s credit cards, President Barack Obama on Friday ordered that U.S. government-issued cards contain chip and PIN technologies and directed government agencies to obtain new credit card readers.

“More than 100 million Americans had information that was compromised in data breaches in some of our largest companies, and identity theft is now America’s fastest-growing crime,” Obama said in speech detailing his executive order and other cybersecurity measures.

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President Barack Obama arrives at the Consumer Financial Protection Bureau in Washington on Friday. The Associated Press

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The order follows several high-profile computer hacking events affecting consumers at Target, Home Depot, Bank of America and JP Morgan Chase, sparking fears of data breaches.

Obama delivered his remarks at the Consumer Financial Protection Bureau, created under the 2010 revamp of financial regulation.

The president also outlined the government-supported Buy Secure effort, featuring a rollout by major retailers such as Home Depot, Target, Walgreens and Wal-Mart of secure chip and PIN-compatible card terminals in their stores – most by January 2015, according to the White House.

The debate over credit card technology has divided retailers and banks for years.

The president and the private sector are actually quite late to the game on card technology. Canada and Europe are far ahead in adopting credit card technology that protects consumers against cyber theft.

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